Short Interest in Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) Increases By 31.1%

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 2,150,000 shares, a growth of 31.1% from the September 15th total of 1,640,000 shares. Based on an average daily volume of 398,000 shares, the days-to-cover ratio is currently 5.4 days.

Corvus Pharmaceuticals Trading Down 1.0 %

NASDAQ CRVS traded down $0.07 during trading hours on Tuesday, hitting $6.72. The company’s stock had a trading volume of 700,514 shares, compared to its average volume of 285,856. The company has a market capitalization of $420.34 million, a PE ratio of -12.92 and a beta of 1.14. Corvus Pharmaceuticals has a 52 week low of $1.05 and a 52 week high of $6.98. The company’s 50-day simple moving average is $4.72 and its two-hundred day simple moving average is $2.94.

Corvus Pharmaceuticals (NASDAQ:CRVS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Research analysts anticipate that Corvus Pharmaceuticals will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CRVS. StockNews.com cut shares of Corvus Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday. LADENBURG THALM/SH SH raised their price target on shares of Corvus Pharmaceuticals from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.83.

Institutional Investors Weigh In On Corvus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRVS. Vanguard Group Inc. increased its stake in Corvus Pharmaceuticals by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 1,493,357 shares of the company’s stock valued at $2,658,000 after buying an additional 142,724 shares during the last quarter. Towerview LLC increased its stake in shares of Corvus Pharmaceuticals by 4.6% during the 2nd quarter. Towerview LLC now owns 400,000 shares of the company’s stock worth $728,000 after purchasing an additional 17,500 shares during the last quarter. Samlyn Capital LLC increased its stake in shares of Corvus Pharmaceuticals by 160.7% during the 2nd quarter. Samlyn Capital LLC now owns 6,123,021 shares of the company’s stock worth $11,144,000 after purchasing an additional 3,774,658 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Corvus Pharmaceuticals during the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 46.64% of the company’s stock.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of immune modulator product candidates to treat solid cancers, T cell lymphomas, autoimmune, allergic, and infectious diseases. Its lead product candidate is soquelitinib (CPI-818), a selective covalent inhibitor of interleukin 2 inducible T cell kinase (ITK), which is in a multi-center Phase 1/1b clinical trial for the treatment of peripheral T cell lymphoma, solid tumors, and atopic dermatitis.